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It appears that Indian govt is going to give into the pressure from opposition and may revisit the coal blocks allocation and thus downtrend may be in offing in the market unless govt keeps talking tough and do not cave in due to opposition pressure. As a net result due to prevalent doldrums in political situation, Nifty broke the psychological barrier of 5400 mark. Now the downslide in Nifty can be only stopped by positive global cues and in such scenarios trading with sure stock is the ideal bet to make money in the market.

However one need not panic as still daily trend of Nifty remains in Up trend till the time the level of 5300 is protected. However for the time being it appears that now market will consolidate at current levels after recent gains and will be trading with negative bias and may revisit 5300 levels. The market breadth on the Bombay Stock Exchange ended weak with 1,634 shares declining and 1,185 shares advancing.

Warning

All those companies which are beneficiary of coal mine allocation must keep themselves ready for scrutiny as their share price will go downwards if it is proved that the company has used unfair means to get the coal blocks allocated. Coal India is an exception which is showing a breakout as sate owned mining company has decided to buy back its own shares which means that it is cash rich and has faith in its capabilities and performance.

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